Bitcoin price gains nearly 10% in July, but traders still see BTC copying 2022 bear market
Bitcoin is posting its strongest July since 2022, with BTC/USD up about 9.5%, but several traders warn the move may still fit a bearish seasonal pattern. July strength can be misleading because Q3 is historically Bitcoin’s weakest quarter, with low liquidity and muted summer volumes. One analyst expects price to keep rising through the second half of July before reversing, noting that 2022 also saw a strong July followed by weakness in August and September. Some market participants are targeting a bounce toward $70,000, with near-term upside zones cited around $67,000–$73,000. However, concern remains that August could erase July gains, with a larger bear-market bottom potentially forming later in the year. Overall demand is only partially recovering, and onchain signals are starting to resemble previous bear-market bottom setups.
